LianBio Completes Strategic Review And Determined To Initiate The Wind Down Of Its Operations, Including Sale Of Remaining Pipeline Assets, Delisting Of ADSs And Workforce Reductions; Board Has Declared Special Dividend Of $4.80/Sharea
Portfolio Pulse from Benzinga Newsdesk
LianBio has concluded its strategic review and decided to wind down operations, including selling its pipeline assets, delisting its ADSs, and reducing its workforce. The board has declared a special dividend of $4.80 per share.
February 13, 2024 | 12:09 pm
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LianBio is winding down operations, selling assets, delisting ADSs, and reducing workforce, with a special dividend of $4.80/share declared.
The decision to wind down operations and delist ADSs indicates significant operational and financial challenges for LianBio, likely leading to a negative short-term impact on its stock price. The special dividend may provide a temporary uplift but does not offset the fundamental issues.
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RELEVANCE 100